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I’ve written this basic guide as an introduction to the different levels of value so that users of appraisal services will be able to better determine what sort of appraisalreports would best suit their needs. Fair Market Value is also frequently encountered in equitable distribution and family distribution appraisalreports.
Further, appraisalreports must follow the latest version even if the appraiser has NOT taken the latest course. Note that the definition of replacement cost comparable mentions age. If the Cartier ring mentioned above dated to 1925, then age is a significant value characteristic.
Step 2: Verify Qualifications Verify the qualifications of certified jewelry appraisers to ensure you are working with a reputable and knowledgeable professional. Qualified jewelry appraisers must have undergone extensive gemology, diamond identification, and grading training. Confirm education and experiences.
Gemstone Appraisal Gemstone Certification: Certificates from reputable gemological laboratories provide information about the gemstone's type, quality, and characteristics. Identification Documents: If the gemstone is rare or valuable, additional identification documents may be required to verify its authenticity.
In an insurance appraisal, current condition is especially important to document the “before” condition in case there is an event that causes damage. Types of damage include water damage, smoke damage, damage that may occur during a move such as denting or cracking and age-related damage, such as oxidation.
If a work is in pristine condition, especially for its age, it would have a higher value than a work with a lot of craquelure issues or paint loss. A sample appraisalreport also needs to be submitted and reviewed by a committee of certified appraisers. Condition is the very first thing I look for when inspecting a work!
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